Redwood Investment Management LLC Makes New Investment in Morningstar, Inc. $MORN

Redwood Investment Management LLC acquired a new stake in Morningstar, Inc. (NASDAQ:MORN) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 13,997 shares of the business services provider’s stock, valued at approximately $2,184,000.

A number of other institutional investors have also recently added to or reduced their stakes in MORN. Corient Private Wealth LP purchased a new position in Morningstar during the second quarter valued at $1,184,000. Bamco Inc. NY purchased a new position in Morningstar in the 2nd quarter valued at about $545,937,000. Bank of America Corp DE purchased a new stake in Morningstar during the 2nd quarter worth approximately $30,051,000. American Capital Management Inc. acquired a new position in shares of Morningstar during the second quarter valued at approximately $17,934,000. Finally, Caisse de depot et placement du Quebec purchased a new position in Morningstar in the 2nd quarter valued at $1,342,000. Institutional investors and hedge funds own 57.02% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MORN. Weiss Ratings upgraded Morningstar from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, August 14th. UBS Group dropped their target price on Morningstar from $280.00 to $260.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. Wall Street Zen raised shares of Morningstar from a “hold” rating to a “buy” rating in a research report on Sunday, June 21st. Rothschild & Co Redburn set a $210.00 price objective on shares of Morningstar in a research report on Thursday, June 18th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $212.00 target price on shares of Morningstar in a report on Friday, June 26th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $227.33.

Morningstar Stock Down 1.2%

Shares of NASDAQ:MORN opened at $212.44 on Thursday. The business has a 50-day moving average price of $181.64 and a 200 day moving average price of $177.33. Morningstar, Inc. has a 12-month low of $141.49 and a 12-month high of $265.73. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.66. The company has a market capitalization of $7.97 billion, a price-to-earnings ratio of 20.12 and a beta of 0.99.

Morningstar (NASDAQ:MORN) last announced its earnings results on Wednesday, July 29th. The business services provider reported $3.10 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.27. The company had revenue of $663.20 million during the quarter, compared to analyst estimates of $649.72 million. Morningstar had a net margin of 16.43% and a return on equity of 38.57%.

Insiders Place Their Bets

In other Morningstar news, Chairman Joseph D. Mansueto sold 5,659 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $218.84, for a total value of $1,238,415.56. Following the sale, the chairman owned 7,938,192 shares of the company’s stock, valued at $1,737,193,937.28. The trade was a 0.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 86,500 shares of company stock valued at $17,824,451. 38.80% of the stock is currently owned by company insiders.

About Morningstar

Morningstar, Inc is a leading provider of independent investment research, data, and analytics, serving both individual investors and financial professionals. The company offers comprehensive coverage of financial products, including mutual funds, exchange-traded funds (ETFs), stocks, bonds and market indexes. Morningstar’s proprietary rating systems and research methodologies help clients assess the risk and return profiles of investment opportunities and make informed decisions.

Its core products include Morningstar Direct, an institutional investment analysis platform; Morningstar Office Cloud, a portfolio management solution for advisors; and Morningstar Data, which delivers extensive datasets through APIs and data feeds.